Economic Survey 2022 Gross Value Added – India

Economics: ,

February 1, 2022

Overview:

Economic Survey 2022 Gross Value Added – India – For better analysis of economy.

Issues:

In News there is not enough information, it is biased, and it is incomplete. Here we give as it is information from Economic Survey for better analysis. This google sheet would be updated every year with enhancements. Economic Survey 2022 was released on 31st January 2022

Gross Value Added

As part of the data on GVA, the NSO provides both quarterly and annual estimates of output — measured by the gross value added — by economic activity. The sectoral classification provides data on eight broad categories that span the gamut of goods produced and services provided in the economy. These are: 1) Agriculture, Forestry and Fishing; 2) Mining and Quarrying; 3) Manufacturing; 4) Electricity, Gas, Water Supply and other Utility Services; 5) Construction; 6) Trade, Hotels, Transport, Communication and Services related to Broadcasting; 7) Financial, Real Estate and Professional Services; 8) Public Administration, Defence and other Services.

The GVA data is crucial to understand how the various sectors of the real economy are performing. The output or domestic product is essentially a measure of GVA combined with net taxes. While GDP can be and is also computed as the sum total of the various expenditures incurred in the economy including private consumption spending, government consumption spending and gross fixed capital formation or investment spending, these reflect essentially on the demand conditions in the economy. From a policymaker’s perspective it is therefore vital to have the GVA data to be able to make policy interventions, where needed. Hindu

Author:
Strategy Boffins Team
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